St. Paul daily globe., 1887-07-26
On the Chicago Board Of Trade Yester-
day Wheat Was Bearish at the
Opening.
This Was Caused by Free Receipts and
Local Unloading, But There Was
Little Activity.
Later Sales Were Made On the Strength
of an Increase in the Visible
Supply.
Transactions In the Financial Circles
of Wall Street.-The General
Quotations.

Special to the Globe.
CHICAGO, July 25.-There was inpected
from store on Saturday 24, 064 bu Of winter
and 219, ,O03 bu of spring wheat, 2,22O'4|2
bu of corn "a. 400 bu of oats and 5000 bu
of rye. This is good showing in the matter
of shipments and there would be greater COM
fort in the situation if the receipts were not
so large. The bears put in big inning on
Saturday and August wheat touched its low
est point But the effect of this weakness
was productive of good results. 1t brought
to the support of the market some OF the
strongest traders few of whom for years
past had strong predictions for the bear
side. The confidence exhibited by these
heavy purchasers is significant. and II II
means anything it means that there will be
no 65-cent wheat this year. From the spec
ulatiye standpoint wheat is strongly
held, and The men who are en-
couraging it can afford to protect
it and do so. On the curb this morning Sep
tember wheat sold at71c. Over the deals on
the regular board August had been taken
down and September substituted, the quota
tiOns peing for options of the fall month.
Business did not begin until 1880, but 1t
started in with much spirit which was well
maintained. Sellers were in the majority
September wheat opened at 70S4cs October at
728sc,
THE SEPTEMBER OPTION
then dropped to 70I2c steadied a little at
7Osse, but reacted to 7OI2c. September corn
opened at 37I2c but went to 3Slsc in the first
half hour. August oats brought 24ssc and
September oats 24I2c. The first price for
August wheat was 6S5sc. August lard sold
for $500; September short ribs brought
S9.15, selling soon after at SS.12I2. Receipts
of wheat here to-day. were 2,754 bu; ship
ments, 253, ,43S bu: receipts of corn, 116.5O3
bu; shipments, 3O4,556 bu. st. Louis re-
ceived 4O4. 734 bu and Toledo 100000 bu.
while both together did not ship 100000
bu. Milwaukee received $4,000 bu,
Detroit 100000 Duluth $4,000. The ship
ments were not proportionately large, and
the showing was not calculated 10 add much
strength TO the market for the next twenty
four hours at least. At noon when Secretary
Stone ascended to the rostrum 10 announce
the visible supply the usual enthusiasm was
lacking. He did not have good news. and the
crowd failed to give him that "Rah and hi
reception which is wont TO mantle his cheeks
with bushes Instead of q decrease III wheat
there was an increass-S0me said 100000
bu. Silence having been secured the
AgFres were announced as follows: De
crease, cats. 100000 bu: corn, .2S.0OO
bu; increase, wheat. 605. 600 bu. Then
Issued a season of grief, during which
Eeptember wheat sold ION the split between
VElec and 70Ac.
THE ROUTINE REPORT.
CHICAGO, July 25.-Wheat was beayish at
the opening to-day under free receipts and
local unloading, but the market was not par
ticularly active. August first sold at 6S23c,
then at 6Sl2c and later went to 6S5Sd 6Ss4c,
but reacted again. The same relative cond
tions were observed in other futures. Sep
tember wheat. which is the month now
quoted on the dial. opened ut 7034c. fell back
IN oIN n a
ceded TO 1OSsc. 1t was at this figure when
the secretary announced the visible supply
as having made an increase of 600,O0O bu
since last week. On the strength of it Sep
tember Immediately dropped to 7014c, but
before 30, had picked up small frac-
ton. There was not much in sight TO bull
wheat after this. As whole, the
crowd was not prepared for an increase
of the visible supply, and on the strength of
it considerable wheat was forced TO sale,
naturally lowering prices. September
dropped to zoe few minutes before the
close, and closed at 10G T0lsc. August
closed at 6SlSc. Corn opened higher, and
with a bulliSh feeling prevalent. August
started al SIC, and quickly sold up to 3714c.
More is now done in September corn than in
the nearer option. Prices in this were firm
because no rain has fallen in the corn belt.
though everywhere else in the country it is
moderately moist September opened at
37Iac, fell to 374c. and then bulled UP full
cent The close was firm at 3S4c for Sep
temher and 37l2c for August. In the grain
the visible supply showed Il decrease of 72S,-
600 bu. Oats were quite active. Early in
the day the feeling was quite weak. and for
near futures there was q decline of 14GgSc
but this was afterwards recovered the mar
ket becoming more steady The arrivals
were very heavy, new oats arriving in excess
of the demand and thereby unsettling the
speculative feeling. September opened at
24S4c, sold down to 245sc and up to 25Isc,
closing at 2475c. Provisions were again
stronger, and despite the hcayiness in wheat
prices were higher. Trading was not heavy
but the belief that several large packers were
quietly buying short ribs through brokers the
higher price for hogs and corn caused hold
ers to keep their products and scared shortss
into covering, and although outside prices
were not maintained, closing sales were at a
net advance over Saturdays close of 2I2c on
lard and 12I2c on short ribs. Pork was slow
and light, transactions were made at lower
prices.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2 July opened at 6SI4c closing
at 67s4c; August, 6S5sc closing at 6Slsc:
September, 70s4c, closing at 701sc; October
72Ssc, closing at 71s4c. Corn-No. July
opened at 37Isc. closing 37Isc: August. SIC,
closing at 37l2c: September 37l2c, closing at
374c: October, 37S4c, closing at 3S5sc. Oats
No. July opened at 24c, closing at 24c;
August, 24ssc closing at 241sc; September
24s4c, closing at 24s4@247sc; October, 25Isc
closing at 255sc. Mess pork, per bbl wear
S11. Lard, per 100 lbs, July opened at 81. so
closing at S6.57Ia; August, Sc 90, closing at
$3.50; September, S6.72I2, closing at S6.7O:
october, S6.77l2, closing at S6.75. Short
ribs, per 100 lbs, July opened at SIS. .05, clos
ing at SS.12l2; August, SS05, closing at
SSl2l2: September, SS.15. closing at So 30.
Cash quotations were as follows: Flour was
quiet and prices without quotable change
Wheat-NO. 2Spring 6734c; No. red, 70I2c
No. 2 corn, 374c. No. oats. 24c. No. .
rye, 44c. No. 1 flax seed, s1.Os@l .Osl2.
bbl 2I5 Lard per 100 lbs ST 51LsG6 80